Life and AD & D Insurance
Program
A term life insurance and limited accidental death and dismemberment program which includes an accelerated death benefit for terminal illness.
Employee Premium Rates
Currently, no premium rate is charged to employees.
Enrollment
All eligible employees will be automatically enrolled. Coverage will be effective the first of the month following eligibility.
Eligibility & Coverage
Employees must be appointed at half-time or more in an appointment that exceeds six months and be in an eligible employee category.
| Eligible Employee | Life Insurance | Accidental Death & Dismemberment |
|---|---|---|
| Executive | $150,000 | $150,000 |
| Management/Supervisory (MPP) | $100,000 | $100,000 |
| Faculty (Unit 3) | $50,000 | $50,000 |
| Teaching Associates (E99) | $50,000 | $50,000 |
| Public Safety (Unit 8) | $10,000 | $10,000 |
| Student Services Professional (Unit 4) | $25,000 | $25,000 |
| Confidential Employees | $50,000 | $50,000 |
Certificates
Each participant will be provided with a certificate of insurance detailing the program.
Cancellation / Termination
If you become ineligible because of a change in time base or employee category, coverage will be automatically cancelled. Any cancellation or termination of coverage will cause the enrollment to cease at midnight on the last day of the pay period for which premiums have been paid.
Conversion Rights
Upon termination of employment, you may elect to convert the insurance to an individual policy that Standard Insurance offers. No evidence of insurability is required if the application is mailed within 30 days following termination of employment. Contact Standard Insurance at (800) 378-5745 for additional information.
Beneficiary
If you wish to designate a beneficiary other than a spouse, child, parent or siblings, which are considered automatic (statutory) beneficiaries, you must complete a beneficiary form which can be obtained from the Benefit Services Department.
Direct Pay
If you go on a leave without pay or are otherwise in approved non-pay status, you may elect to pay the full premium for continuous coverage. For further information, contact the Benefit Services Department.
Claims Processing
Beneficiaries should contact the Benefit Services Department for instructions for filing a claim. This is a summary of the Transamerica Life Insurance Program and should not be construed as a substitute for the master contract. Individual insurance certificates are provided to each covered employee.